Tag: GST Compliance

In the erstwhile regime, the value of input credit availed by you did not depend on the remittance of tax liability by the supplier. As a result, the compliance of vendor was not an influencing factor in vendor evaluation. Largely, it was all about the…

With GST one of the biggest change in habit would be that accounts need to be maintained regularly on a daily basis and the pressure on compliance would then become much lesser because then it becomes a normal activity. If the accounts are not being…

With GST, there has been a fundamental shift in how your books are maintained. Till now in the entire tax regime, the only version of the truth was how you maintained your books. All your filings flowed from that. Are you GST ready yet? Get…

With the introduction of the GST Act, if your business needs HSN/SAC codes and tax rates, you can set these details easily using our GST-ready software, Tally.ERP 9 Release 6. With this, you have the flexibility to configure GST rates and HSN/SAC codes at any…

On October 14th, 2016 the Confederation of All India Traders (CAIT) signed an MOU with Tally Solutions in order to train their member businesses – roughly 6 lakh traders all over the country, on the subject of GST. While the focus is largely to enable…

GST is here. While the entire country gears up to welcome the biggest economic and tax reform since Independence, here is a checklist for you – so that you easily transition into GST. Are you GST ready yet? Get ready for GST with Tally.ERP 9…

With just a few weeks left for the roll out of GST, one of the burning questions on your mind as a Tally user is probably, “How will Tally support my business to become GST Ready?” With this blog post, you will understand Tally’s GST…

If one looks at GST, it does seems like a boon for consumers – with the promise of lower prices; for businesses – with the promise of a simplified indirect tax regime; and for the Indian Government – with the promise of higher tax revenues….

Assessment of tax means determination of the tax liability of a person. The tax liability of a person is the amount of tax to be paid by a person during a tax period. The types of assessment of tax under GST remain similar to those…

Various measures have been laid down to check non-compliance under GST. These vary based on the severity of the offence. Penalties have been made stricter for tax evaders under GST, when compared to the current regime. In the current regime, tax authorities can arrest a…